What Does the Abbreviation SMP Mean in Banking?

SMP Bank (SMP) is a Moscow, Russia-based bank serving individuals and businesses through securities market, currency conversion, international settlements, lending, safety deposit box, cash funds and other general banking services.

'SMP' Acronym

• 'SMP' stands for "severniy morskoy put," the Russian words for "northern sea route," also referred to by its shortened name, "sevmorput." The northern sea route is a shipping route from the Atlantic to the Pacific Ocean, which travels along the coast of Russia.

Alternate Names

• SMP Bank has only been referred to as such since June 2008. However, its history is long and thus is commonly called by some of its prior names. These names include Multibanka, LNT Skonto Banka, and occasionally MasterCard International, due to a merger.

Names Based on Function

• As of 2010, SMP Bank is referred to most frequently as such, including its usage in the international banking world and in stock brackets. However, due to its history, it is generally still regarded as Multibanka within Russia.